Why choose medical insurance?

A medical insurance policy can be appealing to anyone who wants to avoid the NHS queues and get treatment for non-threatening but inconvenient conditions quickly. Choice is the key benefit, as policyholders can often choose when and where they are treated. They can even select the Doctor who treats them in some cases. This is in complete contrast to the public health system, where the date, time and location of consultations and procedures will often be totally inflexible.

A standard medical insurance policy normally entitles someone to cash to cover costs of tests, overnight accommodation, consultations and treatment in a private facility or a private wing of a hospital which is otherwise NHS-run. Private hospitals usually mean private rooms and a better general standard of interiors, plus a better quality of food.

Different levels of cover are available, with the costs increasing accordingly. Someone’s age will normally also dictate what they pay, as older people are statistically more likely to need to claim on their policy. As with other types of insurance, people who agree to high voluntary excesses are more likely to be able to get a discount.

Another way to keep costs down is to agree to certain exclusions. For starters you will not normally be covered for any pre-existing medical conditions, meaning any problem which you have suffered within the past before taking out the policy. But you can also add to this, by perhaps agreeing that leg operations may not be claimed for, possibly lowering the cost. If you are prepared to agree to a smaller choice of hospitals, for example, perhaps five instead of 15, you may also be in for a discount from the provider.

Shopping around is often the best way to go when choosing medical insurance, and although it is potentially a more emotive subject, it may be beneficial to even look for a policy as you would search for cover for your car. Comparing different features like for like can reveal the plus and minus points of some of the cheaper products. Ironically, as with car insurance, some companies offer no claims discounts to people who do not claim on their medical cover for set periods.

Of course, the best way to reduce your chances of having to claim is to lead a healthy lifestyle. This is obviously physically beneficial as well as financially. Insurers may charge more for people who are smokers or who are overweight. So quitting cigarettes and changing your diet may even lower your policy. Medical insurance is available for individuals, but can also often be applied to couples and even families. A husband and wife can take out a joint policy, which will normally work out cheaper than if they both had separate products. Although the NHS remains an efficient service which will treat anyone regardless of their financial background, a private policy can take away some of the stress and inconvenience associated with getting regular problems sorted. Waiting lists for standard operations can stretch for months, but private cover can see someone treated within weeks or days.